Insurance markets show growth in Indonesia and the Philippines

Oona Insurance reported significant growth in Southeast Asia during the first half of 2026. In Indonesia, the digital general insurer’s gross written premiums (GWP) rose by 40%, even as the broader national insurance market contracted by approximately 2%. This growth moved the company to 23rd in the country’s non-life insurance rankings. In the Philippines, Oona’s GWP increased by 80%, contributing to its position among the top 10 non-life insurers by net written premiums.

Separately, the Philippine life insurance industry saw total premium collections rise by nearly 18 percent to P229.98 billion during the first six months of the year. While benefit payments grew at a faster rate of 19.57 percent, the industry’s net income increased by 3.42 percent to P21.42 billion. The Insurance Commission noted that these figures reflect the stability and resilience of the sector despite recent financial challenges.

Following its recent performance, Oona Insurance is evaluating acquisition opportunities across Southeast Asia, with Indonesia and the Philippines identified as immediate priorities, followed by potential expansion into Thailand and Vietnam.